Multi-family office Proficio Capital Partners, has launched a new Insurance Dedicated Fund (DF) – the Proficio Capital Strategic Opportunities IDF – a series of the SALI Multi-Series Fund, which is available on Prudential Financial and Crown Global Insurance Group platforms.
Proficio Capital Partners serves as the discretionary subadvisor to the Fund.
The fund provides an ‘opportunistic approach to diversification’ by investing in a multi-asset portfolio of both internally and externally managed investment vehicles including, but not limited to: single-stocks, bonds and alternative positions, as well as commodities and precious metals, hedge funds, mutual funds, liquid alternative indices, structured products, derivatives, futures, ETFs, ETNs, CEFs and other investment vehicles. It aims to generate highly competitive risk-adjusted returns through the construction of a highly diversified and actively allocated combination of asset classes and securities. The Fund will be available inside both variable annuity (PPVA) and variable life insurance (PPVUL) policies.
Tax efficiency is at the core of Proficio’s investment strategy for its families. In fact, the firm was founded in 2014 by Matthew Wosk and Bob Haber (pictured),after becoming frustrated with the lack of options for families to evaluate their true performance reports after fees and taxes. PPVUL and PPVA investment accounts have been part of a long-standing tax exclusion for investing inside an insurance/annuity policy. Proficio has been using these types of accounts for their families to complement non-IDF investment accounts with a focus on generating more efficient after-tax returns.
“We evaluated other IDFs, but determined that to meet the multi-generational wealth needs of our families, the options were limited,” says Proficio Founder and Chief Investment Officer Bob Haber. “Similar to our non-IDF offering, the goal of the Proficio IDF Fund will be to generate risk adjusted returns while preserving wealth through extreme diversification and multiple investment strategies. The difference, however, will be that these investments will be held inside an insurance policy.”
“We know that our families’ primary goal is to preserve their wealth throughout multiple generations and the biggest enemy of that wealth is taxes,” says Matthew Wosk, Proficio Founder and Chief Executive Officer. “The reality is that with the country’s current level of debt, the marginal tax rate is only going up for high net worth families. That is why our ongoing focus is two-fold – grow their wealth and preserve that wealth from being depleted by taxes.”
SALI Fund Partners LLC serves as the general partner to the Fund. The minimum investment in The Fund is USD200,000 and is expected to be available to investors through additional insurance companies over time. To satisfy the life insurance component, investors will have to undergo a medical exam as part of the underwriting process. As with any life insurance, the rates will be determined by age and health.